The White House just announced its FY 2008 budget proposal, including $390 million for NSF programs related to nanotechnology. Of course, that number is somewhat less impressive if compared to the "$700 billion in new spending for the military," also outlined in Bush's budget proposal.
Here's an excerpt from the FY 2008 budget proposal:
"Working with other agencies as part of the National Nanotechnology Initiative, NSF’s nanotechnology research will continue to advance fundamental understanding of materials at the subatomic, atomic, and molecular levels and will enable the development of capabilities to design, manipulate, and construct revolutionary devices and materials with unprecedented properties. The Budget provides $390 million in 2008 for NSF’s nanotechnology research investments, an increase of 4.5 percent from the level proposed in 2007, including funding for a new NSF center to address environmental, health, and safety research needs for nano-materials."
(Click here for a comprehensive overview of the FY 2008 budget proposal.)